Hasbro Announces Commitment to Set Ambitious, Science-Based Targets to Cut Emissions

Rhea-AI Summary

Hasbro (NASDAQ: HAS) has joined the Science Based Targets initiative (SBTi), committing to reduce its environmental impact towards a lower carbon economy. This announcement highlights Hasbro's sustainability journey, including eliminating plastic in packaging by the end of 2022, which will reduce virgin plastic use by approximately 19.5 million pounds annually. The company will set near-term (2030) and long-term (2050) Science-Based Targets validated by SBTi. Hasbro aims to promote sustainability and hopes industry peers will join this effort.

Positive

• Joined Science Based Targets initiative (SBTi) to reduce environmental impact.
• Plans to eliminate plastic from new product packaging by end of 2022, reducing virgin plastic use by 19.5 million pounds yearly.
• Offers end-of-life recycling through the Hasbro Toy Recycling program in twelve countries.

Negative

• None.

Company continues legacy of bold action to help protect planet for future generations as new signatory to Science Based Targets initiative (SBTi)

PAWTUCKET, R.I.--(BUSINESS WIRE)-- Hasbro (NASDAQ: HAS), a global play and entertainment company, today announced the company has joined the Science Based Targets initiative (SBTi), committing to further reduce its environmental footprint in support of a lower carbon economy. This commitment marks the latest move in the company’s ongoing sustainability journey, which includes industry-leading initiatives like converting its entire packaging line to plastic-free designs by the end of 2022, and the Hasbro Toy Recycling program where consumers can recycle their well-loved toys and games in twelve countries around the world.

The SBTi is a global initiative that aligns with the most ambitious goal of the Paris Agreement: to reduce the impacts of greenhouse gases on human society and nature. To reach net-zero global emissions and limit global warming to 1.5°C, Hasbro will set both near-term (2030) and long-term (2050) Science-Based Targets (SBTs) this year that will be validated by the SBTi. This ambitious agenda is part of the SBTi’s new Net-Zero Standard, the world’s first science-based standard for setting a companies’ net-zero targets.

“As a global leader in play and entertainment for fans of all ages, Hasbro understands the critical importance of operating sustainably to protect our planet for future generations,” said Chris Cocks, incoming CEO of Hasbro. “Committing to SBTs is another step for Hasbro to make a positive difference for our planet and fans around the world. Our hope is others across the industry join us in this effort.”

Hasbro has a long, respected history of environmental stewardship, and the SBTi commitment follows the organization’s on-track progress to meet its goal to eliminate virtually all plastic from new product packaging by the end of 2022, reducing the use of virgin plastic by an estimated 19.5 million pounds annually. In addition to designing products for sustainability, Hasbro also offers end-of-life recycling solutions through its industry-first Hasbro Toy Recycling program, helping ensure well-loved toys and games do not end up in landfills by designating the recycled materials for use in play spaces like playgrounds, sports courts and park benches. The program is available in twelve countries around the world including the US, Canada, Brazil, the UK, France and Germany.

“At Hasbro, we are committed to making the world a better place for future generations, which includes taking important action to reduce our footprint across our entire supply and value chain,” said Kathrin Belliveau, Chief Purpose Officer, Hasbro. “We are proud to be setting SBTs this year under the new framework and honored to join the SBTi community and be part of the collaborative effort on the path to net zero.”

To learn more about Hasbro’s sustainability commitments and progress, visit csr.hasbro.com.

About Hasbro

Hasbro (NASDAQ: HAS) is a global play and entertainment company committed to making the world a better place for all children, fans and families. Hasbro delivers immersive brand experiences for global audiences through consumer products, including toys and games; entertainment through eOne, its independent studio; and gaming, led by the team at Wizards of the Coast, an award-winning developer of tabletop and digital games best known for fantasy franchises MAGIC: THE GATHERING and DUNGEONS & DRAGONS.

The Company’s unparalleled portfolio of approximately 1,500 brands includes MAGIC: THE GATHERING, NERF, MY LITTLE PONY, TRANSFORMERS, PLAY-DOH, MONOPOLY, BABY ALIVE, DUNGEONS & DRAGONS, POWER RANGERS, PEPPA PIG and PJ MASKS, as well as premier partner brands. For the past decade, Hasbro has been consistently recognized for its corporate citizenship, including being named one of the 100 Best Corporate Citizens by 3BL Media and one of the World’s Most Ethical Companies by Ethisphere Institute. Important business and brand updates are routinely shared on our Investor Relations website, Newsroom and social channels (@Hasbro on Twitter, Instagram, Facebook and LinkedIn).

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Hasbro, Inc. | Ali McEneaney | cell: 917-957-2421 | allison.mceneaney@hasbro.com

Source: Hasbro

FAQ

What commitments has Hasbro made to sustainability?

Hasbro has committed to reducing its environmental impact by joining the Science Based Targets initiative (SBTi) and setting targets for 2030 and 2050.

What is Hasbro's target for eliminating plastic packaging?

Hasbro aims to eliminate plastic from new product packaging by the end of 2022, reducing virgin plastic use by approximately 19.5 million pounds annually.

In how many countries is Hasbro's Toy Recycling program available?

The Hasbro Toy Recycling program is available in twelve countries, including the US, Canada, UK, France, Germany, and Brazil.

What does the Science Based Targets initiative (SBTi) aim to achieve?

The SBTi aims to align companies with the Paris Agreement goals to reduce greenhouse gas emissions and limit global warming to 1.5°C.

Who is the incoming CEO of Hasbro?

Chris Cocks is the incoming CEO of Hasbro.